The trend volume estimate for total new capital expenditure fell by 4.9% in the September quarter 2016 while the seasonally adjusted estimate fell by 4.0%.

The trend volume estimate for buildings and structures fell by 8.5% in the September quarter 2016 while the seasonally adjusted estimate fell by 5.7%.

The trend volume estimate for equipment, plant and machinery rose by 1.0% in the September quarter 2016 while the seasonally adjusted estimate fell by 1.9%.

EXPECTED EXPENDITURE (CURRENT PRICE TERMS)

This issue includes the fourth estimate (Estimate 4) for 2016-17.

Estimate 4 for 2016-17 is $106,926m. This is 14.3% lower than Estimate 4 for 2015-16. Estimate 4 is 1.3% higher than Estimate 3 for 2016-17.

See pages 7-10 for further commentary on expectations data.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)

Release Date

December 2016

23 February 2017

March 2017

1 June 2017

June 2017

31 August 2017

September 2017

30 November 2017

CHANGES TO THIS ISSUE

Each September quarter, the reference and base year for chain volume estimates for the Survey of Private New Capital Expenditure are updated. A new base year, 2014-15, has been introduced into the chain volume estimates which has resulted in minor revisions to growth rates in subsequent periods. In addition, the chain volume estimates have been re-referenced to 2014-15. Additivity is preserved in the quarters of the reference year and subsequent quarters. Re-referencing affects the level of, but not the movements in, chain volume estimates.

As happens each year, a seasonal review has been undertaken based on estimates up to and including the June quarter 2016. This review has not resulted in noteworthy revisions to estimates up to and including June quarter 2016. There are no noteworthy revisions to previous estimates.

DATA NOTES

Mining projects tend to be complex in structure and comprise a number of different investment activities including exploration, engineering construction, plant and equipment and buildings. A feature article released in the March 2012 issue of Private New Capital Expenditure and Expected Expenditure, Australia (cat. no. 5625.0) provides a summary of the conceptual basis of the relevant ABS publications that measure investment in Australia, using a hypothetical mining project to illustrate how this investment is reflected in ABS data.

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